• USD/CAD gathered upward momentum on Thursday as dollar was lifted by a stronger U.S. jobs report on Friday which saw investors bets that the U.S. Federal Reserve will increase rates next week.
   
• The number of Americans filing for unemployment benefits last week rebounded from a near 44-year low, but continued to point to a tightening labor market.
   
• Initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 243,000 for the week ended March 4, the Labor Department said on Thursday.
   
• Expectations have steadily continued in recent weeks following stronger-than-expected U.S. economic figures and comments by key Fed policymakers.
   
• Traders will closely follow Friday's U.S. nonfarm payrolls report as an indicator of labor market health that could set the tone for the Fed's policy statement.
   
• Currently the pair is trading at 1.3510 levels, it is set to advance further towards 1.3560 and later 1.3600 levels in the short term.
   
• Major support can be seen at 1.3385, break below this level will expose the pair to next support level at 1.3000.
   
• Immediate resistance can be seen at 1.3123, break above this level will expose it towards 1.3171 levels.
  
  Resistance Levels
  
  R1: 1.3572 (Session highg)
  
  R2: 1.3600 (December 28th January  )      
  
  R3: 1.3687 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.3480 (50% Retracement level)        
  
  S2: 1.3385 (61.8 % Retracement level)   
  
  S3: 1.3000 (Psychological levels)